6. Bank of New York Mellon
Shares of Bank of New York Mellon (BK) closed at $25.02 Friday, for a year-to-date decline of 36%. The shares have 31% upside potential, based on the mean price target of $25.02, among analysts polled by FactSet.
Based on a quarterly payout of 13 cents, the shares have a dividend yield of 2.72%.Please see TheStreet's earnings coverage for a summary of the company's third-quarter results. UBS analyst Greg Ketron on Friday initiated his firm's coverage of Bank of New York Mellon with a neutral rating and a $20 price target, saying he believes the company "will continue to grow its global footprint in the foreseeable future," and that although the shares are "attractively priced currently," BNY is "limited vs. peers for capital deployment and more negatively impacted by the low rate environment." Ketron estimates that Bank of New York Mellon will earn $2.30 a share in 2012. The shares trade for 8.0 times the consensus 2012 earnings estimate of $2.35 a share, among analysts polled by FactSet, and 2.3 times tangible book value, according to SNL Financial. Out of 19 analysts covering Bank of New York Mellon, 10 rate the shares a buy, eight have neutral ratings, and one analyst recommends selling the shares. Interested in more on Bank of New York Mellon? See TheStreet Ratings' report card for this stock.
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